The High Court has altered a worldwide freezing injunction to allow an ex-Lendy director to sell property it can be revealed.
According to court papers recently filed, former Lendy director Tim Gordon, 42 of Chichester, has been granted permission from the court to vary a worldwide freezing injunction imposed on him and others in June 2020.
The injunction was granted after Mr Justice Zacaroli found “that evidence demonstrates a good arguable case as to the misappropriation of funds in excess of ÂŁ6.5 million by the first two defendants, by making payments for no proper purpose, purportedly justified by false invoices and at least two service level agreements created after the event.” All the defendants to the claim deny any accusation of wrongdoing.
The underlying claim has been covered on this blog in “The Marshall Island Mystery”.
Deputy Master Bowles, the procedural judge dealing with Mr Gordons application, records in their order of 28th Jan 2022, that the Joint Administrators of Lendy do not object to the sale.
The freehold property, which according to information on the Zoopla website is understood to be a three-bed end-terrace house, is located in Cosham, Portsmouth. The order records that the expected sale price is some ÂŁ255,000.
The terms of the order require Mr Gordon to notify the Joint Administrators’ solicitors within two working days of contracts exchanging. Following completion of the sale Mr Gordon is required to provide paperwork confirming the “net sale proceeds of the property”.
The net proceeds of the sale “will remain subject to the terms of the Zacaroli Order save that nothing will prohibit Mr Gordon spending some or all of the said net sale proceeds on legal advice and representation”.
Mouse in the Court 
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